Rudra Gas Enterprise Ltd Auditor Reports

To

The Members of

RUDRA GAS ENTERPRISE LIMITED

Report on the Audit of the Standalone financial statements Opini?n

We have audited the Standalone financial statements of RUDRA GAS ENTERPRISE LIMITED ("the Company"), which comprise the Balance Sheet as at 31st March 2024, the statement of profit and loss, the Cash Flow Statement for the year ended March 31st 2024 and notes to the Standalone financial statements, including a summary of significant accounting policies and other explanatory information.

In our opini?n and to the best of our information and according to the explanations given to us, the aforesaid Standalone financial statements give the information required by the Companies Act, 2013 in the manner so required and give a true and fair view in conformity with the accounting principies generally accepted in India, of the State of affairs of the Company as at March 31, 2024, and its profit for the year ended on that date.

Basis for Opini?n

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Standalone financial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Standalone financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opini?n on the Standalone financial statements.

Emphasis of Matter

1) . We draw attention to Note 30 of the financial statements, wherein expenses amounting to Rs.2.74 lacs pertaining to previous year have been disclosed as prior period taxes. Our opini?n is not modified in respect of this matter.

2) . We would like to draw attention to Note 33 of the standalone financial statements, which discusses the show cause notices (SCNs) received by the Company f rom GST authorities concerning GST interest and penalties amounting to Rs. 10.50 lacs. The Company believes it has a strong case on merits regarding this matter. However, due to the inherent uncertainty, the final outcome will only be determined upon the resolution of this issue. Our conclusi?n remains unmodified in relation tothis matter.

3). We would like to draw attention to Note 33 of the standalone financial statements, which pertains to the ?ntimation order received by the Company from the Deputy Director of Income Tax regarding a tax liability amounting to Rs. 4.04 lacs. The Company believes it has a strong case on merits concerning this matter. However, due to the inherent uncertainty, the outcome will be determined upon the resolution of this issue. Our conclusi?n remains unmodified in relation to this matter.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Standalone financial statements of the current period. These matters were addressed in the context of our audit of the Standalone financial statements as a whole, and in forming our opini?n thereon and there are no any key audit matters which need to be reported.

Key Audit Matters	Auditors response
Revenue recognition for Sale of Services (as described in Note 2(1) of standalone financial Statements
A) The implementation of the revenue accounting standard requires several critical judgments, including the identification of distinct performance obligations, the determination of the transaction price for these obligations, and the appropriateness of the methods used to measure revenue recognized over a specified period.	Our audit approach consisted testing of thedesignand operating effectiveness of the internal Controls and substantive testing as follows:
	Evaluation of Interna! Controls:
	Assessed the design of internal Controls related to the implementation of the revenue accounting standard.
	Sample Selection and Testing:
	Selected a sample of both continuing and new contracts to test the operating effectiveness of ?nternal Controls concerning the identification of distinct performance obligations and the determination of transaction prices. This involved a combination of inquiry, observation, performance testing, and evidence inspection regarding the operation of these Controls.
Revenue recognition for Sale of Services (as described in Note 2(i) of standalone financial Statements
	Contract Analysis Procedures:
	For the selected contracts, the following procedures were performed:
	Analysed and identified the distinct performance obligations outlined in the contracts.
	Compared these identified performance obligations with those recorded by the Company.
	Reviewed the contract terms to ascertain the transaction price, including any variable considerations, to val?date the transaction price used for revenue computation and to assess the basis of estimation.
	Conducted analytical procedures to eval?ate the reasonableness of the disclosed revenues.
Accounting of contract work-in-progress for construction projeets.
(B) The company recognized contract revenue and contract costs from contract work-in-progress with reference to the stage of completion of the contract activity at the end of reporting period. The stage of completion is measured by reference to work performed. The accounting for such construction projeets is complex due to high level of estimation in determining the costs to complete. This is due to the nature of the operations, which may be impacted by the technological complexity of projeets, the precisi?n of cost estimation during the budgeting process and the actual progress of each project during the financial year. Accordingly, the accounting of contract work-in progress for engineering construction projeets is identified as a key audit matter.	Our audit procedures included the following:
	Contract Review:
	Conducted a thorough review of contract terms and conditions, along with the contractual sums, to val?date project revenues and costs incurred against the supporting documentation.
	Estimation Analysis:
	Analysed changes in cost estimates from prior periods and evaluated the consistency of these changes in relation to the progress of the projeets throughout the year.

Information Other than the Standalone finandal statements and Auditors Report Thereon

The Companys Board of Directors are responsible for the preparation of the other information. The other information comprises the information included ?n Management Discussion and Analyses, Boards Report including Annexure(s) to Boards Report, Corporate governance and Shareholder Informations but does not inelude Standalone financial statements and our auditors report thereon. The annual report is expected to be made available to us after the date of this auditors report.

Our opini?n on the Standalone financial statements does not cover the other information and we do not express any form of assurance conclusi?n thereon.

In connect?on with our audit of the Standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Standalone financial statements, or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance and take necessary actions, as applicable under laws and regulations further we are also required to report that fact, But We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Standalone financial statements

The Companys Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these Standalone financial statements that give a true and fair view of the financial position, financial performance of the Company in accordance with the accounting principies generally accepted in India, including the accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

This responsibility also ineludes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial Controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone financial statements, the Board of Directors are responsible for assessing the Companys ability to continu? as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liqu?date the Company or to cease operations, or has no realistic alternative butto do so.

The Board of Directors are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the Standalone financial statements

Our objectives are to obtain reasonable assurance about whether the Standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that ineludes our opini?n. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We are also:

• Identify and assess the risks of material misstatement of the Standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opini?n. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, orthe override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)0) of the Companies Act, 2013, we are also responsible for expressing our opini?n on whether the company has adequate ?nternal financial Controls system in place and the operating effectiveness of such Controls.

• Eval?ate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continu? as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the Standalone financial statements or, if such disclosures are inadequate, to modify our opini?n. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continu? as a going concern.

• Eval?ate the overall presentaron, structure and conten? of the Standalone financial statements, including the disclosures, and whether the Standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentaron.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding ?ndependence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our ?ndependence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation preeludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give In the Annexure "A", a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extentapplicable.

2. As required by Section 143(3) of the Act, we report that:

a. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit.

b. In our opini?n proper books of accounts as required by law have been kept by the Company so f ar as it appears from our examination of those books.

c. The Balance Sheet, the statement of Profit and Loss and the Cash Flow statement dealt with by this Report are ?n agreement with the books of account.

d. In our opini?n, the aforesaid Standalone financial statements comply with the accounting standards specified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014.

e. On the basis of the written representaron received from the directors as on 31st March 2024 taken on records by the Board of Directors, none of the directors is disqualified as on 31 st March 2024 from being appointed as a director in terms of Section 164(2) of the Act.

f. With respect to the adequacy of the internal financial Controls with reference to Standalone financial statements and the operating effectiveness of such Controls, refer to our sep?rate Report in "Annexure-B" which is based on the auditors reports of the company. Our report expresses an unmodified opini?n on the adequacy and operating effectiveness of internal financial Controls with reference to Standalone financial statements of those companies.

g. With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opini?n and to the best of our information and according to the explanations given to us:

I. The Company does not have any pending litigations which would impact its financial position.

ii. The Company did not have any long-term contracts including derivatives contracts for which there were any material foreseeable losses.

?ii. There were no amounts which required to be transferred to the Investor Education and Protection Fund by the Company.

a. The Management has represented that, to the best of its knowledge and belief, other than as disclosed in notes to accounts, no funds (which are material either ?ndividually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity (Intermediaries) with the understanding, whether recorded in writing or otherwise, that the intermediary shall, whether directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ult?mate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

b. The Management has represented that, to the best of its knowledge and belief, no funds (which are material either ?ndividually or in the aggregate) have been received by the Company from any person or entity, including foreign entity (Funding Parties) with the understanding, whether recorded in writing or otherwise, that the Company shall, whether directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ult?mate Beneficiarles) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

c. Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our attention that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11 (e) as provided under (a) and (b) above, contain any material misstatement.

iv.The Company has not declared any dividend during the year henee reporting under this

clause is not applicable.

	For, Desai & Desai
	Chartered Accountants
	FRN: - 139459W
Place: Ahmedabad	Hardik Desai
Date: 30/05/2024	(Partner)
UDIN: 24166613BKGXFW2453	MRN: - 166613

ANNEXURE - A TO INDEPENDENT AUDITORES REPORT

(Referred to in paragraph 1 under Report on Other Legal and Regulatory Requirements Section of our report to the members of RUDRA GAS ENTERPRISE LIMITED of even date)

With reference to the Annexure A referred to in the Independent Auditors Report to the members of the Company on the Standalone financial statements for the year ended March 31st, 2024, we report the following:

(I) Property, Plant, Equipment and intangible Assets:

(a) (A) The Company has maintained proper records showing full particulars, including quantitative details, situation of Property, Plant and Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

(b) All Property, Plant and Equipment have not been physically verified by management during the year but there is a regular programme of verification which, in our opini?n, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) According to the information and explanation given to us and on the basis of our examination of the records of the company, the Title deeds of Immovable Property (Other than Immovable property where company is Lessee and the lease agreement are duly executed in favour of the lessee) disclosed in the Standalone financial statements are held in ?ame of the company.

(d) The Company has not revalued any of its Property, Plant and Equipment (including Right-of-use assets) and intangible assets during the year.

(e) No proceedings have been initiated during the year or are pending against the Company as at March 31, 2024 for holding any benami property under the Prohibition of Benami Property Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

(II) Inventory:

(a)The inventory, except stocks lying with third parties, has been physically verified by the management during the year. For stocks lying with third parties at the year-end, written confirmations have been obtained subsequent evidence of receipts has been linked with inventory records. In our opini?n, physical verification of inventory has been conducted at reasonable intervals by the management and the coverage and procedure of such verification by the management are appropriate. No discrepancies were noticed on verification between the physical stocks and the book records that were more than 10% in the aggregate of each class of inventory.

(b)According to the information and explanation given to us and on the basis of our examination of records of the company, the Company has been sanctioned working capital limits ?n excess of five crore rupees in aggregate from banks and/or financial ?nstitutions during the year on the basis of security of current assets of the Company. As disclosed in note 19 to the financial statements, the returns/statements filed by the Company with such banks and financial institutions are in agreement with the books of accounts of the Company except some differences which are not material.

(III) Loans, Investments, Guarantees and Securities

The Company has not provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured, to companies, firms, limited liability partnerships or any other parties during the year.

Accordingly, provisions of clauses 3(iii)(a) to 3(iii)(f) of the Order are not applicable to the Company. The Company has not granted any loans, given any guarantee and securities to the parties covered under sections 185 and 186 of the Act. The Company has made investment in a Company, in respect of which the requisite information is as below.

?ame of Entity	No of Shares	Amount in Rs.
RUDRA GAS GREENSTAT HYDROGEN PRIVATE LIMITED	5000 Shares	50,000
GREENSTAT HYDROGEN INDIA PRIVATE LIMITED	994 Shares	1,02,38,200

(IV) Loans to directors & Investment by the Company:

According to information and explanations given to us and based on audit procedures performed, the company has complied with the provisions of sections 185 and 186 of the Companies Act, 2013 in respect of loans, investments, and securities provided by the Company as specified under sections 185 and 186 of the Companies Act, 2013. Therefore, further reporting required as per clause 3 (iv) of the Order is not applicable.

(V) Deposits:

According to the information and explanations given to us, the Company has not accepted any deposits from the public, henee the directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Act and the rules thereunder are not applicable to the company. In view of this, reporting required regarding contravention of such provisions, or any order passed by the authorities/Tribunal as per clause (v) of the Order is not applicable.

(VI) Cost Records:

According to the rules prescribed by the Central Government for the maintenance of cost records under section 148(1) of the Companies Act, 2013 ?s not appl?cable to the company therefore reporting under this clause is not required.

(VII) Statutory Dues:

(a) According to the Information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted / accrued in the books of account in respect of undisputed statutory dues including provident fund, income-tax, GST, valu? added tax, duty of customs, service tax, cess and other material statutory dues if applicable have been regularly deposited during the year by the Company with the appropriate authorities. As explained to us, the Company did not have any dues on account duty of excise.

(b) Details of statutory dues referred to in sub clause (a) above which have not been deposited as on 31st March,2023 on account of disputes are given below:

?ame of statute	Nature of Taxes	Amount in Dispute (Rs.)	For Financial year	Forum where Dispute is pending	Remarks, If Any
KGST Act, 2017	GST Interest	7,442	FY 2022-23	Assistant Commissioner of Commercial Tax	Interest Paid in cash, Reply filed and pending for Order
KGST Act, 2017	GST Interest	10,668	FY 2022-23	Assistant Commissioner of Commercial Tax	Interest Paid in cash, Reply filed and pending for Order
RGST Act, 2017	GST Interest	32,008	FY 2019-20	Deputy Commissioner of Commercial Tax	Interest Paid in cash, Reply filed and pending for Order
RGST Act, 2017	GST Interest and Penalty	86,656	FY 2022-23	Deputy Commissioner of Commercial Tax	Interest Paid in cash, Reply filed and pending for Order
UGST Act, 2017	GST Penalty	50,000	FY 2022-23	Deputy Commissioner of Commercial Tax	Amount under Dispute
CGST Act, 2017	GST Penalty	25,000	FY 2022-23	Deputy Commissioner of Commercial Tax	Amount under Dispute
CGST Act, 2017	GST Penalty	7,52,246	FY 2020-21	Excise And Taxation Officer-cum- State Tax Officer	Amount under Dispute
PGST Act, 2017	GST Interest	17.664	FY 2022-23	Excise And Taxation Officer-cum- State Tax Officer	Interest Paid in cash, Reply filed and pending for Order
PGST Act, 2017	GST Interest	11,701	FY 2022-23	State Tax Officer cum Proper Officer	Interest Paid in cash, Reply filed and pending for Order
PGST Act, 2017	GST Taxes	6,922	FY 2021-22	Excise And Taxation Officer-cum- State Tax Officer	Interest Paid in cash, Reply filed and pending for Order
Income Tax Act,1961	Income Tax	4,03,780	FY 2022-23	Deputy Director of Income Tax	Amount under Dispute

(VIII) Unrecorded income:

In our opini?n and according to the information and explanations given to us, there ?s no any transaction not recorded in the books of account have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

(IX) Repayment of loans:

(a) According to the information and explanations given to

us and on the basis of our examination of the records of the Company, the Company has not defaulted in the repayment of loan or in the payment of interest thereon from the loans or borrowings taken from banks and financial institutions. The company has not issued debentures during the year henee reporting to that extent is not applicable.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

(c) According to the information and explanations given to us, term loans raised during the year were applied for the purpose for which the loans were obtained.

(d) According to the information and explanations given to us and on an overall examination of the Standalone financial statements of the Company, funds raised on short-term basis have, prima facie, not been used during the year for long-term purposes by the Company.

(e) According to the information and explanations given to us and on an overall examination of the Standalone financial statements of the Company, we report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries or associates as defined under the Companies act, 2013. The Company did not have any joint venture (as defined under the Companies act, 2013) during the year ended March 31, 2024.

(f) According to the information and explanations given to us and procedures performed by us, the Company has not raised loans during the year on the pledge of securities held in its subsidiary or associate as defined under the Companies act, 2013. The Company did not have any joint venture (as defined under the Companies act, 2013) during the year ended March 31, 2024.

(x) Utilisation of IPO & FPO and Pr?vate Placement and Preferential lssues:ent of loans:

(a) The Company has raised money by way of initial public offer during the year were applied for the purposes for which those are raised.

Further The Unutilised funds of Rs.656.77 Lakhs from IPO proceed have been kept with as follow: -

Fixed Deposits with Ca?ara Bank	600.00 Lakhs
Bank balance in Axis Bank Limited	30.37 Lakhs
Bank balance in Ca?ara Bank	26.40 Lakhs

(c)According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not made any preferential allotment or pr?vate placement of shares or fully or partly convertible debentures during the year. Accordingly, clause 3(x)(b) of the order is not applicable.

(XI) Reporting of Fraud:

(a) Based on examination of the books and records of the and according to the information and explanations given to us, considering the principies of materiality outlined in Standards on Auditing, we report that no fraud by the Company or on the Company has been noticed or reported during the course of the audit.

(b) According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Companies Act, 2013 has been filed by the auditors in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) According to the information and explanations given to us, the Company has not received any whistle blower complaints (up to the date of audit report).

(XII) N?dhi Company:

According to the information and explanations given to us, the Company is not a Nidhi company. Accordingly, paragraph 3(xii) of the Order is not applicable.

(XIII) Related Party Transaction:

According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the Standalone financial statements as required by the applicable accounting standards.

(XIV) Interna! Audit:

(a) . In our opini?n and based on our examination, the company has an internal audit system Commensurate with the size and nature of its business.

(b) . We have considered the reports of internal auditors of the company issued till date, for the period under audit in determining the nature, timing and extent of our audit procedures.

(XV) Non-cash Transaction:

In our opini?n during the year the Company has not entered into any non-cash transactions with its directors or persons connected with its directors as referred to section 192 of the Companies Act, 2013 are not applicable to the Company.

(XVI) Register under RBI Act, 1934:

(a) According to the information and explanations given to us, The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934.

(b) According to the information and explanations given to us, The company has not conducted any Non-Banking Financial or Housing Finance activities during the year.

(c) According to the information and explanations given to us, The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India.

(d) According to the information and explanations given to us by the management, there ?s no core investment company within the Group (as defined in the Core Investment Companies (Reserve Bank) Directions, 2016)

(XVII) Cash losses:

The Company has neither incurred cash losses in this financial year ?or in the immediately preceding financial year.

(XVIII) Auditors resignation:

There has been no resignation of the statutory auditors of the Company during the year.

(XIX) Financial Position:

According to the information and explanations given to us and on the basis of the financial ratios as disclosed in Note-36, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the Standalone financial statements and our knowledge of the Board of Directors and Management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report indicating that Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year f rom the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee ?or any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

(XX) Corporate Social Responsibility

The company is not Hable to spend or expend or contribute for corporate Social Responsibility under Section 135 of the Companies Act and therefore the provisi?n of paragraph 3(xx) of the order is not applicable to the Company for the year.

	For, Desai & Desai
	Chartered Accountants
	FRN: - 139459W
Place: Ahmedabad	Hardik Desai
Date: 30/05/2024	(Partner)
UDIN: 24166613BKGXFW2453	MRN: - 166613

ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT ON STANDALONE FINANCIAL STATEMENTS OF RUDRA GAS ENTERPRISE LIMITED FOR THE YEAR ENDED 31ST MARCH 2024

Report on the Internal financial Controls with reference to the aforesaid standalone financial statements under Clause (i) of Sub-Section 3 of Section 143 of the Companies Act, 2013

(Referred to in paragraph 2 (f) under Report on Other Legal and Regulatory Requirements Section of our report of even date)

We were engaged to audit the internal financial Controls with reference to standalone financial statements of Rudra Gas Enterprise limited("the Company") as of March 31st, 2024, in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Management s Responsibility for Internal Financial Controls

The Companys management is responsible for establishing and maintaining internal financial Controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India ("ICAI"). These responsibilities inelude the design, implementation and maintenance of adequate internal financial Controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opini?n on the Companys internal financial Controls with reference to standalone financial statements of the Company. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants of India and the Standards on Auditing prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial Controls with reference to standalone financial statements. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial Controls with reference to standalone financial statements was established and maintained and if such Controls operated effectively in all material respeets. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial Controls with reference to standalone financial statements and their operating effectiveness. Our audit of internal financial Controls with reference to standalone financial statements included obtaining an understanding of internal financial Controls with reference to standalone financial statements, assessing the risk that a material weakness exists and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opini?n on the Companys internal financial Controls with reference to standalone financial statements.

Meaning of Internal Financial Controls with reference to standalone financial statements

A company s internal financial control with reference to standalone financial statements is a process designed to provide reasonable assurance regarding the reliabil?ty of financial reporting and the prepararon of financial statements for external purposes in accordance with generally accepted accounting principies. A companys internal financial control with reference to standalone financial statements ineludes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principies and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use or disposition of the companys assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls with reference to standalone financial statements

Because of the inherent limitations of internal financial Controls with reference to standalone financial statements, including the possibility of collusion or improper management override of Controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial Controls with reference to standalone financial statements to future periods are subject to the risk that the internal financial control with reference to standalone financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteri?rate.

Opini?n

In our opini?n, to the best of our information and according to the explanations given to us, the Company has, in all material respeets, an adequate internal financial Controls with reference to standalone financial statements and such internal financial Controls with reference to standalone financial statements were operating effectively as at March 31, 2024 based on the criteria for internal financial control with reference to standalone financial statements established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

	For, Desai & Desai
	Chartered Accountants
	FRN: - 139459W
Place: Ahmedabad	Hardik Desai
Date: 30/05/2024	(Partner)
UDIN: 24166613BKGXFW2453	MRN: - 166613